Wyeth Stock Slides as Study
Casts Shadow on Medicines

By

Scott Hensley Staff Reporter of The Wall Street Journal

Updated July 10, 2002 12:01 a.m. ET

Wyeth, the drug company practically built on hormone-replacement therapy, was jolted Tuesday by the second study results in a week to cast a shadow on the medical value of its $2.5 billion franchise of menopause medicines.

Shares of Wyeth, based in Madison, N.J., plunged $11.94, or 24%, to $37.30 in 4 p.m. composite trading on the New York Stock Exchange Tuesday, wiping out about $15 billion of the company's stockholder value.